Andy Schectman returns to the Friday Night Economic Review. First we discuss the biometric ID program recently rolled out in Vietnam and reports that 86 million “non-compliant” bank accounts were shut down. We talk plainly about what that means — who gains power, who loses freedom, and how ID systems plus payment rails can be used to enforce compliance. Vietnam is a blue print for what will be rolled out everywhere.

Then we step back into the long view with Strauss & Howe’s Fourth Turning — the idea that nations cycle through seasons and we’re now in the last stage marked by decadence and decay.

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MUSIC CREDITS: “In Epic World” by Valentina Gribanova, licensed for broad internet media use, including video and audio